50 Bonds - Fifty Pieces of Standard Oil Co. of New Jersey Bonds - Known Now as ExxonMobil

Oil derrick and male figures by American Bank Note. Various denominations and colors. 50 pieces.

The Standard Oil Company of New Jersey, incorporated in 1882, served as a crucial refining and marketing arm of John D. Rockefeller’s vast Standard Oil Trust. By 1899, it had become the primary administrative holding company for the empire after New Jersey’s laws were amended to allow corporations to hold stock in other companies. With control over over 40 other oil companies, it epitomized Rockefeller’s monopolistic, horizontal, and vertical integration of the American petroleum industry. However, its immense market power, fueled by secret railroad rebates and aggressive price-cutting, made it the main target of antitrust legislation. After a contentious lawsuit, the U.S. Supreme Court ruled in 1911 that the Standard Oil Company of New Jersey was an illegal monopoly and ordered its dissolution under the Sherman Antitrust Act.

Following its dissolution, the former Standard Oil Company of New Jersey was split into 34 independent companies. These companies eventually emerged as one of the largest international oil corporations, operating under brands like Esso, Enco, and Humble. Throughout the mid-20th century, it remained a significant global player in exploration and refining. In 1973, the company officially changed its name to Exxon Corporation to establish a unified national brand in the United States. This move was followed by a merger in 1999 with the Standard Oil Company of New York (Mobil), resulting in the formation of ExxonMobil. Today, it continues to be one of the largest direct descendants of the original Standard Oil conglomerate.